European feeds-Soymeal mixed as market lacks direction

ROTTERDAM: Soymeal prices were mixed on the European meals and feeds market on Friday with little fresh news to give the market direction.

South American soymeal was offered between $4 a tonne up and $2 down from Wednesday, pressured by easier CBOT soymeal futures and a stronger dollar, which weighs on products priced in that currency. Buyers showed little interest and no deals were reported.

"Prices moved either way of unchanged with many participants absent, bridging between the Ascension Day holiday on Thursday and the weekend," one broker said.

EU rapemeal was quoted between flat and 2 euros a tonne lower, tracking easier rapeseed futures, which took their cue from weaker CBOT soybean futures on follow-through technical selling. Bids were scarce and no business was seen.